Spotify Value Tops $8 Billion as Investors Bet on Streaming

Spotify Ltd. received a valuation topping $8 billion in its latest round of funding as the world’s largest subscription music-streaming service said its number of customers exceeded 75 million.

The company raised $526 million from investors including Goldman Sachs Group Inc., Baillie Gifford & Co., Discovery Capital Management, Lansdowne Partners, Rinkelberg Capital and Senvest Capital for a valuation of $8.5 billion, a person familiar with the matter said. Phone carrier TeliaSonera AB said Wednesday it invested $115 million.